Neco Insurance Limited (NIL) net profit declines at the end of the second quarter of FY 2076/77. The non-life insurance company stated that it earned a net profit of Rs.16.47 Crore in Q2 of the FY 2076/77, down from Rs.17.03 Crore in the corresponding quarter of the FY 2075/76.
The net income from premium has increased from Rs.60.31 Crore to Rs.70.99 Crore at the end of Q2 of 2076/77. The company net claims grew to Rs.25.85 Crore till Q2.
Its current paid up capital stands at Rs.1.31 Arba. It has a reserve fund of Rs.39.67 Crore and the insurance fund amounts to Rs.68.98 Crore.
The company has issued a total of 117,809 insurance policies till Q2 of 2076/77. Its annualized earning per share stands at Rs.25.01, net worth per share stands at Rs.187.42 and quarter end P/E ratio at 16.71 times.